Matsa Resources Limited (ASX:MAT) (FRA:KB2) samples have revealed extensive gold anomalism with a peak value of 10.95 g/t gold at Devon Prospect within Lake Carey Gold Project in Western Australia.
The recently completed soil sampling program was extended south of Matsa’s recent sampling at Devon to include Hill East and the area covered by a recent sub-audio magnetic (SAM) survey.
The results strongly support upcoming drilling of SAM targets interpreted as a mineralised structure linking the HE1 and HE2 gold mineral resources at Hill East.
Results also highlight the potential to extend mineral resources.
Soil sampling
As a part of the soil sampling a total of 485 samples were collected at 100-metre intervals along EW lines spaced 100 metres apart to produce a staggered or diamond-shaped pattern to minimise potential directional bias imposed by line orientation.
Samples were collected at a depth of 5-30 centimetres and are expected to more accurately define gold anomalies in soil than historical auger samples which sampled a variety of positions within the soil/weathered rock profile.
Whilst the results are yet to be fully evaluated, it is clear that there is gold anomalism in soils at Devon with three samples returning above 1 g/t gold, including one sample close to Matsa’s HE1 resource which returned in excess of 10 g/t gold.
New results have been combined with Matsa’s earlier 2020 soil results to the north, from which soil gold targets were originally defined.
They also indicate seven new geochemical targets that have been selected for detailed follow-up geological mapping and sampling to define drill targets.
Lake Carey Gold Project
The Lake Carey Gold Project comprises Matsa’s Red October, Fortitude and Devon Mines and contains a large number of historic gold workings.
Recent successful surface drilling by Matsa has been focused on the Devon Pit, Olympic and Hill East prospects.
In 2020, Matsa also announced high-grade drilling results from its exploration at the underground Red October gold mine.
The company has established mineral resources of 654,000 ounces and an ore reserve of 58,000 ounces at Lake Carey.